"Abadi" reveals serious information about Iraq's resources

December 14 / December 2015
Revealed Haider al-Abadi, the Iraqi prime minister, for serious and important information on the financial resources of Iraq, pointing out that the government should prepare a new budget to reduce the deficit next year.

Ebadi said that Iraq's financial resources decreased by 60%, and the great challenge facing the government is to reduce the budget deficit for next year.

Abadi said during a meeting Saturday the President and members of the Parliamentary Finance Committee, that "the real resources of the country fell by 60%, and the government budget preparation so that reduce the deficit to acceptable limits, which have been introduced in the inclusion of budget items."

The al-Abadi, said in an earlier At a speech delivered on his behalf by Minister of Planning and Salman al-Jumaili at the annual banking conference in Baghdad that Iraq "is going through a difficult financial circumstance because of low oil prices," and called for the revitalization of the agricultural and industrial sectors.

He acknowledged the Iraqi Council of Ministers in October / October last federal budget for 2016 project at $ 106 trillion Iraqi dinars (90.9 billion dollars), a deficit of 23 trillion dinars (19.7 billion dollars).

And it amounted to Iraqi oil exports through November last about 3.3 million barrels per day, the highest achievement for Iraqi exports for decades, after the government's drive to increase oil production and to compensate the lack of income due to falling prices.

The Reuters news agency quoted last November from sources in the oil sector, Iraq sold its oil at a very low minimum of thirty dollars a barrel in the framework of the quota in the world oil market war.

The Iraqi government has resorted to raising the sales tax on imported goods in order to strengthen public revenues in light of the decline in oil revenues.